CHP Granted $350,000 Low-Interest Loan from Bon Secours Health System
Christiansburg, Va. — Today Community Housing Partners (CHP), a non-profit Community Development Corporation based in Christiansburg, announced that it has received a low-interest $350,000 loan from Bon Secours Health System, Inc. to undertake predevelopment, acquisition and construction activities related to the preservation and development of 655 units of high quality, sustainable affordable rental apartments located within Bon Secours Health System’s service area.
The expected impact of Bon Secours loan over the next 3 – 4 years in the Hampton Roads, Central Virginia, and Eastern Kentucky regions includes:
• the preservation of 620 affordable units
• an increase of 35 additional affordable units
• the provision of stable housing with resident services to over 600 low income families and seniors
“This investment from Bon Secours Health System, Inc. will assist CHP with the creation of high quality, affordable rental opportunities for lower-income families, while helping to revitalize and strengthen communities in our mutual service areas,” said Janaka Casper, President and CEO of CHP.
About Bon Secours Health System, Inc.:
Bon Secours Health System, Inc. based in Marriottsville, Maryland, is a $2.9 billion dollar not-for-profit Catholic health system that owns, manages or joint ventures 18 acute care, 5 long-term care, 4 assisted living, 6 retirement communities/senior housing, 14 home care and hospice services, and other facilities, primarily on the East Coast. Bon Secours Health System consists of more than 21,000 caregivers helping people in seven states. Its vision is to be a prophetic Catholic health ministry partnering with communities to create a more humane world, build health and social justice and provide exceptional value for those served.